Instagram has begun its foray into the metaverse by allowing creators to share their NFTs on the platform.
The social media platform is beginning to test digital collectibles with a handful of US creators and collectors who will be able to share NFTs on Instagram that they have created or bought.
Creators are able to connect a digital wallet and have the ability to choose which NFTs they want to share on Instagram.
Once a creator or collector posts a digital collectible, it will have a “shimmer effect” and can display public information, such as a description of the NFT. Posts will also be visible on their profile.
Instagram will also make sure the creator gets the proper credit as the creator and collector will be automatically attributed in the digital collectible post.
In a post, Instagram said, “We collect and organise public data from open blockchains, such as Ethereum, to provide this feature. From this public blockchain data, we can only identify which collectibles belong to collectors and creators when they connect their third-party wallets to Instagram.”
The blockchains that will be supported are Ethereum and Polygon, with Flow and Solana coming soon.
The third-party wallets compatible for use will include Rainbow, MetaMask and Trust Wallet, with Coinbase, Dapper and Phantom coming soon. There will be no fees associated with posting or sharing a digital collectible on Instagram.
According to Instagram, “It’s critical that our early efforts in this space empower diverse voices and that underrepresented groups have access to emerging digital assets like NFTs. By building support for NFTs, we aim to improve accessibility, lower barriers to entry, and help make the NFT space more inclusive to all communities.
“It is also important that we keep Instagram a safe and enjoyable place for everyone. Therefore, people can use our tools to keep their accounts secure and report digital collectibles which go against our community guidelines.”
Instagram assures that its parent company Meta will help reduce the emissions impact that might be associated with the display of digital collectibles on Instagram by purchasing renewable energy.
The feature will be available to more creators soon.